Australia Passes Crypto Regulation Requiring Exchanges to Obtain Financial Services Licenses Within Six Months

Apr 1, 2026

Australia passed the Corporations Amendment (Digital Assets Framework) Bill 2025 on April 1, 2026, requiring crypto exchanges and custody providers to obtain Australian Financial Services Licenses from ASIC within six months. The legislation creates two regulated categories—digital asset platforms that hold crypto for users and tokenized custody platforms that hold real-world assets and issue corresponding digital tokens—bringing them under the same core rules as brokers and fund managers, including requirements to safeguard client assets, provide standardized disclosures, and maintain dispute resolution systems. Research from the Digital Finance Cooperative Research Center estimates Australia could generate A$24 billion annually from tokenized markets, representing roughly 1% of GDP, compared to just A$1 billion by 2030 under the previous regulatory approach. Industry representatives from Kraken and OKX Australia praised the framework as a pivotal signal that will attract institutional participation and give firms confidence to invest locally.

New Licensing Requirements and Regulatory Framework

▪The Corporations Amendment (Digital Assets Framework) Bill 2025 requires crypto exchanges and custody providers to obtain Australian Financial Services Licenses.
▪Australia passed the Corporations Amendment (Digital Assets Framework) Bill 2025 on April 1, 2026.
▪Tokenized custody platforms under the Corporations Amendment (Digital Assets Framework) Bill 2025 are defined as entities that hold real-world assets and issue a corresponding digital token.
▪The Corporations Amendment (Digital Assets Framework) Bill 2025 brings digital asset platforms under the same core rules as brokers and fund managers.
▪The Corporations Amendment (Digital Assets Framework) Bill 2025 creates two new regulated categories: digital asset platforms and tokenized custody platforms.
▪Digital asset platforms under the Corporations Amendment (Digital Assets Framework) Bill 2025 are defined as entities that hold crypto on behalf of users.

Economic Opportunity and Industry Impact

▪The Corporations Amendment (Digital Assets Framework) Bill 2025 aims to reduce risks such as commingling, insolvency, and misuse of customer assets.
▪Under Australia's previous regulatory path, the country was on track to capture just A$1 billion of the digital asset opportunity by 2030.

Industry Response and Market Positioning

▪A Kraken spokesperson said the Corporations Amendment (Digital Assets Framework) Bill 2025 provides a top-down signal that Australia is serious about digital assets.
▪Kate Cooper called the Corporations Amendment (Digital Assets Framework) Bill 2025 a pivotal moment that establishes a foundation for institutional participation and long-term capital allocation.

Perspective of Crypto exchanges (Kraken, OKX Australia)

▪Kate Cooper of OKX Australia characterizes the Corporations Amendment (Digital Assets Framework) Bill 2025 as a pivotal moment establishing a foundation for institutional participation.
▪Kraken believes clearer rules under the Corporations Amendment (Digital Assets Framework) Bill 2025 will give firms confidence to invest and expand locally in Australia.